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CNBC
Dec 27, 2012 4:00am EST
around the world. president obama and congress return to work today with little progress seen on a deal to avoid the fiscal cliff as the government starts taking steps to buy more time before the u.s. hits the debt ceiling. the yen hits a two-year low against the dollar as the new japanese government battles to weaken currency. exports are rising, pushing the nikkei to its strongest gain in 20 years. .shares of toyota are heading higher after the u.s. settled a class action lawsuit. the $1 billion payment is already priced in. okay. welcome to "worldwide exchange." plenty of news to watch out of washington. all of this week, we thought it would be a quiet one. but i won't be inside the beltway if they want to get something done. the u.s. will hit the $16.4 trillion debt ceiling come monday. in a letter to congressional leaders, geithner says treasury will begin taking steps to save the government about $2 billion. geithner says it's harder to predict a time frame because the ongone fiscal cliff talks make it difficult to forecast next year's budget. among the measures treasury will take
FOX News
Dec 31, 2012 3:00pm PST
four years. >> president obama said a deal is in sight and appeared at a campaign style event to remind everyone he is winning and g.o.p. is not. >> last month, republicans in congress said they would never agree to raise tax rates on the wealthiest americans. the agreement currently discussed would raise those rates, raise them permanently. >> republicans suggest the event may backfire to accuse the republican of rubbing their nose in defeat. >> the president won. we know that. he won fair and square. isn't it now time to govern? >> the president was out of line with his comments at 1:30 afternoon. this is a delegate time. i think the democrats would be embased after what the president did. >> after months of the president promising a balanced approach there are only tax hikes for rich without new spending cuts. today he hinted at more tax hikes ahead. warning republicans that the future deficit reduction will not come from cuts alone. >> if they think that is the formula for how we solve this thing, they have another thing coming. that is not how it will work. >> republicans fire back
PBS
Dec 29, 2012 12:00am PST
.b.r. >> susie: good evening everyone. i'm susie gharib. fiscal cliff talks at the white house end with no deal, but president obama says he's still hopeful and says "we've got to get this done." gold prices pulled back today on worries about the fiscal cliff, will the metal shine in 2013? then cuba, tonight's "market monitor" sees big opportunity on the tiny island when the embargo's lifted. thomas herzfeld, of thomas herzfled advisors joins us. that and more tonight on "n.b.r."! president obama says he's "modestly optimistic" a fiscal deal can be reached in time. he said he's instructed senator harry reid and senator mitch mcconnell to come up with a plan that can pass in congress. his brief comments a short while ago came after a whit
CNN
Dec 30, 2012 12:00pm PST
it obama says let's raise taxes instead. we're dealing with tens of trillions of dollars in unfunded liabilities, in four years obama has done nothing on entitlement reform. nothing for four years. what has he done? chirped about raising taxes on rich people. raising taxes on rich people is what obama talks about instead of doing his job. there are two costs to this. one, if you take money out of savings and investment, which is what you're doing with this, it doesn't help, it reduces the incentives to save, invest and work and the other thing you do is you never get to reform government entitlements. >> that's not causal. >> it is, absolutely. >> that's not really. >> you live in new york i live in d.c., washington, this is all causal. the reason he's talking about tax increases is to avoid the conversation and dealing with spending restraints. that's why obama does what he does. >> the reason i doubt that, grover, is because we've all done the math and we all absolutely agree on the math that you can't get out of the deficit hole we're in by taxing rich people even if you tax them
LINKTV
Dec 30, 2012 4:00pm PST
other deals to soften the impact. >> u.s. president barack obama making a rare appearance on one of u.s. tv's agenda-setting sunday shows. he appealed to politicians of both parties not to let the u.s. go off the so-called fiscal cliff. the budget crisis, some kay -- say could tip the u.s. into recession dragging the rest of the world with it. >> over the next 48 hours, regardless of partisan differences our top priority has to be that taxes on middle class families do not go up. that would hurt our economy badly. we can get that done. democrats and republicans both say they don't want taxes to go up on middle class families. that's something we all agree on. if we can get that done, that takes a big bite out of the fiscal cliff. it avoids the worst outcomes. >> in the upper house, the senate, sunday the leadership of both parties is putting together a watered-down deal to assure that taxed on americans making less than $200,000 per year don't go up. the president expressed both sides will have to accept compromise. >> there is a basic fairness at stake in this whole thing that the am
CSPAN
Dec 24, 2012 1:30pm EST
stories from the west coast that i have to get for you. barack obama is not relistically dealing with nuclear power. this has been a political football for years ever since the reagan administration. he didn't want the nuclear waste plant built out in the east, tom foley didn't want it built in the west, some texas congressman didn't want it in his state, so that's how nevada got stuck with it. it's been studies, however, this land, yucca mountain's been studied for about 25 years, and the facility's already built, and it cost about $13.5 billion. it is safer to store nuclear waste in one central location in the middle of nowhere -- apologies to north nevada -- tho scatter it around the country which is what our current policy is. our current policy is when the nuclear power plant is done with the fuel, you put it into a fuel pool or a dry casket and sit it on site. that is less safe than just taking it all in and sticking it underneath a mountain in nevada. however, the chair, gregory crash coe -- originally appointed by jrnlg w. bush and elevated to chairman by barack obama and
CBS
Dec 26, 2012 7:00am PST
the potential deal they had been working on with president obama. >> republican strategist, frank luntz has been talking with voters, what is the chance you see this becomes the new compromise? >> i'm not sure if hooert side is watching very closely. we did a survey and we got two interesting questions. one that's very tough on republicans. we asked the american people who is the gop fighting for and representing, the number one answer, the rich the number two answer, big business, well back is number three hard-working taxpayers. by them fighting this on the most wealthy americans, they say once again the gop is standing up for the rich what the democrats don't understand is that the hostility towards how much washington end spends that this whole discussion of the last six weeks has been about raising taxes on the wealthy. >> let's say we get a deal and it's short-term spending cuts and people don't have someone to blame because we don't go over the cliff, but the markets don't like it the world economy doesn't like it and ultimately our currency becomes in jeopardy
FOX News
Dec 30, 2012 1:00pm PST
on deal and president obama is calling out lawmakers for rejecting offers for last month. >> what do you think the chances of a small deal in the less 48 hours to avoid the cliff? >> exceedingly good. i think what have we accomplished, a political vick for the president. the president has stood his ground. he is going to get tax rate increases but upper income americans and sad news for the country we have accomplished very little of not becoming greece. this won't affect the debt situation. it will be a political victory for the president and i hope we'll have the courage of our convictions when it comes time to raise the debt ceiling to fight for what we believe in. but hats off to the president. >> we have been talking to the republicans since the election has been over. they have had trouble to say yes to a number of repeated offers. >> so what kind of deal if any can we expect before the clock runs out? joining us for a fair balanced debate, tony is here, national political correspondent for talk radio news service and fox news contributor, jehmu greene former president of the women
CBS
Dec 28, 2012 7:00am EST
and jeff. president obama meets with the top congressional leaders. no deal can be reached impasse without their meeting. so far the fiscal talks have been when all four of these leaders have been present. >> whether he meant it or not, it seems exhaustive. >> i mean what's going on here? >> what indeed. president obama returned to the white house in a grim mood. he met with no congressional leaders and said nothing about his efforts to avert the fiscal cliff. talks continue between senior white house and congressional staff, but that's been true throughout then tire saga. with the deadline looming there were dire predictions. >> come the first of this year, americans will have less income than they have today. >> and rekrimm nations. >> now republicans have bent over backward. we've stepped way, way out of our comfort zone. we wanted an agreement, but we had no takers. >> the senate's top democrat said it has nothing to do with phone calls but house republican obstruction. >> thehouse of representatives is operating without the house of representatives. it's being operated with a dictator
CNBC
Dec 24, 2012 9:00am EST
christmas, congress and the white house will have to start to deal with what president obama called the real consequences of going over that fiscal cliff. >> nobody can get 100% of what they want. and this is not simply a contest between parties in terms of who looks good and who doesn't. there are real world consequences to what we do here. >> a short-term deal won't just focus on tax rates. the end of the payroll tax cut and the impact of the hike in the minimum tax on january 1st. over the weekend, we did hear from some republican moderates who say it may in fact be time to make some kind of a move. >> the president's statement is right, no one wants taxes to go up on the middle class. i don't want them to go up on anybody. but i'm not in the majority in the united states senate and he's the president of the united states. >> now the focus shifted to mitch mcconnell. the senate taking the lead on a compromise with democrats, and something that can get some support among house republicans. carl? >> hampton, thank you very much. hampton pearson in washington. >> the gift that keeps on givin
CNBC
Dec 26, 2012 5:00am EST
. president obama cutting his trip to hawaii short to work a deal that could avoid the fiscal cliff in a few days. we'll break down what's at stake in "your money." >>> if you got fewer presents under the tree, you may be ready. spending numbers are coming in, and they're not pretty. >>> plus, new numbers for apple's ipad mini and more. that's coming up on "worldwide exchange." >>> good morning and welcome to a special edition of "worldwide exchange." i'm jackie deangelis along with seema mody. ross and kelly are off for boxing day. they'll be back tomorrow. >> that's right. >>> let's get a brief check on the markets this morning. energy and metals are trading at this hour on the nymex. you see crude oil up .6%. brent crude also up. and take a look t yellow metal, gold. down just fractionally. now u.s. futures will begin trading in about a half-hour. the cme globex has been closed for christmas and will reopen at 6:00 a.m. eastern time. that also goes for treasuries and the foreign exchange market. >>> as for the action in the overseas market, the youu.k. is closed for boxing day as are brit
FOX News
Dec 24, 2012 4:00pm PST
-minute deal. for now president obama and the first family are celebrating christmas in hawaii and that's where our ed henry is traveling with the president now live in honolulu. ed? bottom line the president is here in hawaii but might not be here for long. shortly after christmas likely to go back to washington. try and broker some sort of a deal. you remember before he left for hawaii, he announced that he wanted more of a short-term deal. sort of scaled back stop gap measure so that that big grand 4 trillion-dollar. instead he wanted to extend tax cuts for the middle class. he wanted to extend benefits for 2 million people that will lose those benefits a week after christmas. republicans are saying they think the president actually wants to go off the fiscal cliff for political gain. take a listen. when i listen to the president i think the president is eager to go over the cliff for political purposes. additional tax revenue for new programs. he gets to cut the military which democrats have been calling for for years. and he gets to blame republicans for it. >> now, republicans are also sk
CSPAN
Dec 26, 2012 7:00am EST
complain about dealing with obama. they love to do that. not only in complaining about obama but they say that america is losing. america is not losing. all the brains inside this thing which did not exist six years ago is really american brains. the software, the conceptualization. i know it's made in china or korea, but it's american innovation. the pieces are there. it's a matter of putting them together. the reason i'm so disappointed in this administration and the bush administration is because they have been willing to settle for so little. there's no reason this economy cannot grow at 6%. all the pieces are there. the gentleman in massachusetts emt would not. be broke all the not minimum wage is $7.50. i don't believe in the minimum wage, an ocean they can get somebody for $7.50 tells me america is not working the way contraptions like this say it should. -- the notion. guest: well, nobody really wants to go over the cliff when it comes to the military. president obama is in a box. he sees china for what it is from the point of view of a military challenge. he wants to increase ame
CNBC
Dec 24, 2012 5:00am EST
. >>> the deadline to avoid the fiscal cliff is just a week ago. on fri, president obama said he still hoped to work out a deal to keep taxes for 98% of americans from going up on the first of january. but both sides aren't talking and congress is in recess until after christmas. republicans aren't holding out any hope for a deal. >> i would hope that we would have one last attempt here to do what everyone knows needs to be done, which is a larger plan that really does stabilize the debt and get us moving in the right direction. >> if we get down to the end of this year and the oil only choice we have is to save taxes going up on the middle class, then i would support that. but i wish we had a comprehensive bill that dealt with spending and entitlement altogether. >> i believe the president senses a victory at the bottom of the cliff. >> some finger pointing. other republicans are now looking past new year's day to the next battleground. >> i will raise the debt ceiling only if we save medicare and social security and prevent this country from becoming greece. no more borrowing without addressing wh
FOX News
Dec 27, 2012 10:00am PST
thing the prospects of getting a deal after january 1 are significantly higher and that is for three reasons. first now president obama has all the leverage. after january 1st the leverage shifts to the gop. because president obama perfectly going over the fiscal cliff to blame republicans because he can't default on the debt. he will have to compromise between now and february. second of all the baseline gets reset if the tax cuts expire. everybody will propose a tax cut in january and right now we're fighting whether to increase taxes or not. you can see possibility of a deal seen as win-win for both sides. third, if republicans don't come up with a deal, a bad deal right now, they still have the $800 billion in revenue they put on the table from limiting deductions and loopholes that they can use to buy down rates. so i think the odds are, after january 1 we will get a deal and it will be much more favorable deal to the republican party because we'll have the leverage and president obama won't. heather: simon, basically what mark's laid out there would be more of a bunge jump over
CNBC
Dec 24, 2012 6:00am EST
. chuck wants us to do a deal like obama care where you bring in both sides and you think about all the -- you know, all the ideas from the republicans, all the ideas -- and then you adopt a bipartisan plan. >> did you read "the wall street journal" over the weekends? >> i did. >> boehner says i've given you $800 billion. >> what did it remind you of? >> that's some caddie shack. where spalding walks up to the shack and said i want a cheese birg, milkshake and fries. and his grandfather says, you'll get nothing and you will like it. you know what it reminds me of? elections have consequences. i won. it's not a nice tack to the center where i'm going to govern for all of you. are you coming back? >> i'm going to. >> the jacket is coming off, though, right? >> christmas eve and i'm celebrating. as you know, we had the tree going this weekend with the lights on. >> that's so nice. there's one other thing i sought on that thing over the weekend that you brought us that i was going do -- oh,no. did you see mitt romney did not want to run? >> i saw that. that was in the boston globe. that
CSPAN
Dec 30, 2012 10:30am EST
there is down. you see your leaders not the deal they are talking about is identical to the deal president obama talked about the day after the election. the time in between has been wasted. guest: maybe they will be voting on a package academical -- the frustration is in your voice. i had a number of wall street clients. i can tell you from talking to them that there was a qualitative change in their tone and in their attitude about what was happening. host: you work as a financial communications and national director. that is with corvis communications. guest: thank you for mentioning that. clients of thought there was something going to happen. that has changed. my only question is, what took them so long? the signs have been there all year that a deal at the end of the year would be more difficult. host: while we're talking about what we do, explain what the concord coalition is. guest: we are nonpartisan coalition educating the public about this responsibility and our fiscal challenges. guest: if we go over the cliff, it is not the end of the discussion. it is important that people not lose
FOX News
Dec 24, 2012 8:00am PST
they avert the fiscal crisis by getting a deal. president obama spending the christmas holidays in hawaii, but it's not all fun in the sun. still looming as i've just talked about is this large fiscal cliff as the deadline gets closer, and now there are reports surfacing that the president is looking to strike a partial deal that would extend tax cuts for the middle class while holding off on spending cuts. chief white house correspondent ed henry has the luxury of reporting live in honolulu, hawaii. ed it seems for the first time we might really go off the fiscal cliff which is something that you or so many of us in washington never believed would happen. >> reporter: you're right, kelly. i mean for the longest time there was an expectation in both parties there would be a lot of fighting but right up against the christmas holiday they would finally somehow work this out. that is traditionally what happens on capitol hill. this time as you say leaders in both parties now bracing for the real possibility that we will go off that fiscal cliff, and that tax increases will go across the boar
CSPAN
Dec 24, 2012 8:00pm EST
obama said "homeland" is his favorite show. my question is when you're dealing with live, real people who you are portraying or in the case of "homeland" or "24" when you're trying to deal with agencies that you are representing, what is that interaction like? we were talking a little bit in the room next door, maybe you can answer michael, how is tony blair's perception changed as a result of those films or the queen's perception changed in the minds of the public then we can talk about "homeland" and "24"? >> there are many things that you realize that you are working with when you do a film or a tv show that is -- has so much political emphasis. and one of the things is inevitably you come up against the agenda of people in terms of the agendas they have for looking at and judging politicians and public figures. which in my experience people tend to be more comfortable looking at things black and white and you want people to fit into a certain box so you can judge them against other people and make a choice and all that. and of course the first duty of an artist is to go beyond bl
CNBC
Dec 31, 2012 4:00am EST
. will congress and president obama be able to pull together a fiscal cliff deal in time? we'll let you know, when we come back. [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> well, of course, it isn't just the fiscal cliff we're counting down to. it's new year's eve and we want to say happy new year to everyone who is joining us or watching the program here today. earlier, we asked have you made any resolution, trade or otherwise, for 2013. we've got a couple at least. one here from jeff who says i resolve to invest in pets and pampering. petsmart people love pets and profit from it. that's true, actually. ac tweets to accomplish m
CSPAN
Dec 24, 2012 12:00pm EST
. president obama said it is part of a deal that i want to make, those benefits should continue. the public has to take a firm stand. we have seen in the past that obama had to cut a deal in order to get those extensions. host: what specific benefits to these programs provide? guest: the usual weekly cash payout is about $300 a week. sometimes it can vary. in mississippi i want to say it is closer to do hundred dollars. host: how are the programs usually bonded? guest: there funded by payroll taxes. the state administers the programs and the money goes to the unemployed. host: talk about what qualifications people have to meet in order to apply. guest: generally you have to have basically a year of earnings. the earnings have to be a certain threshold. you have to have been let go from a job. it is not like you can just wore mauve and a cloud of anger and qualify for benefits. if you have been working at the mill 14 years, and lose your job and a layoff, it is pretty easy to get benefits. host: we have some of those qualifications a person must meet on the screen there. for people who have
CNBC
Dec 31, 2012 12:00pm EST
the market is betting that mr. obama is going to come out to say they have a deal, we don't know. but that's anticipation right in front of you on a stock chart. as the s&p 500 is the highs of the day, two-thirds of 1%, a gain of 9%. the dow was flat coming on the air at the top of the hour. here we go with a 54-point gain there. the dow is about to push back at 13,000. >> just within the last five minutes since you mentioned the obama press conference? >> absolutely. >> is obama going to have boehner with him? >> at the time, the market does not compare who is with him. >> so would he speak again if he didn't have good news? >> it has been almost 24 hours since he had a press conference. >> dr. jay, this is exactly what we talked about the last several days of not wanting to be short going into the weekend. dangerous position to be negative stock market when they are likely to announce something at some point, the size is the issue, obviously, but this just shows you what can happen to a stock market on a sniff of any positive news coming out of the nation's capitol. >> thomas lee said it
CNBC
Dec 31, 2012 5:00pm EST
,000 level president obama said is where tax increases should start. >> in your view, could any of these sticking points be deal breakers? >> ah, yes. i think it's possible that they could be deal breakers. i don't think they will be, in the end. but there's serious disagreements. both sides are really digging in on the sequester cuts. that's a hard thing for republicans to come out, saying we're voting to raise taxes but we're not voting for spending cuts. democrats are saying, well, you're not raising taxes that much. in fact, way below what the president asked for and what speaker boehner offered in determines of additional tax revenue. i would expect they would get over that later tonight, but we don't know that for sure. and i do think, melissa, that going over the december 31st at midnight deadline has the potential for changing the dynamic a little bit, taking a little bitle of the urgency out of negotiations, especially for democrats, some of whom have felt, well, going over the cliff, we'll be in a stronger position. that's something to watch. >> john, keep us posted on
CNBC
Dec 27, 2012 9:00am EST
. the market doesn't seem to care. >> all the big deal, boehner and obama tried to do last year, still have to do that, simpson boles-type thing. >> by what the secretary of the treasury said yesterday. >> right. >> thank you for being here. >> bromance. a lot of fun. make sure you join us tomorrow. "squawk on the street" begins right now. >>> good thursday morning, welcome to "squawk on the street" live from the new york stock exchange, i'm carl kin ten nia with melissa lee, cramer and neighborer are off today but we are joined by dennis. good morning to you dennis, thanks for coming in. futures today, a lot to deal with as you probably know. the fiscal cliff headline watch continues. you just heard john kanas say the market not too concerned. futures up 21 points. decent data out of europe, we will talk about in a minute what a day for the asian markets again. also coming up. our road map begins at andrews air force base where the president arrives in a couple of hours, cutting his hawaiian vacation short to address the fiscal cliff s there really any hope in the last attempt? does the ma
CNN
Dec 31, 2012 4:00am PST
themselves for the blame game. it is in full swing now. president obama said, basically saying if we go over the cliff, he is really going to take aim at republicans more than he already has. >> they say it. their biggest priority is making sure that we deal with the deficit in a serious way. the way they are behaving, their only priority is making sure tax breaks for the wealthiest americans are protected. seems to be their only overriding unifying theme. >> now, ali, a poll shows republicans will bear more of the blame in this if we do go over the cliff. but the incentive to do something continues even if we go over the cliff. the expectation is come midnight tonight, this is not resolved, even if there isn't some sort of deal, a framework, there is still going to be work done and still be members of congress and the white house trying to wrap this up here in the next few days. >> polls show not only republicans will get the blame and the country supports the president by 2/3 in raising the taxes on the rich. in 20 years if we go over the cliff, you won't remember the name of the speaker o
CNN
Dec 28, 2012 4:00am PST
boehner and barack obama and many people who know these two men feel perhaps they could have a deal. we think to the budget and debt ceiling debacle. neither john boehner and to some degree mitch mcconnell have the ability to go back to their caucuses and get them to rally behind a deal they make. has that changed or does this change as we get closer to the deadline? >> i think it will change closer to the deadline. it will require the leaders to talk to their caucuses and talk to these individual members of the senate and the house of representatives and understanding and underscoring the peril we place in the country at this moment in time and that we have to resolve these issues. american people should not count on a stalemate. we're here to do our jobs in washington and we're seeing this failure demonstrated time and again because of ideological and political and philosophical stubbornness. what about the entire country? what about the good of the country? that's what's at stake for america, and i think that members of congress individually and collectively are responsible and the l
CNBC
Dec 28, 2012 4:00am EST
the past year. that's likely to continue. even if we get a deal, what does this mean? it's a minimalist quick fix. it's not a debt and deficit grant grand bargain solution which obama and boehner were talking about weeks ago and it's probably not going to involve solving the debt ceiling problem. and, of course, we all saw what happened 18 months ago over the debt ceiling. it dragged on and on. bottom line, whatever happens in the next few days, markets, corporate america and consumers in america are probably going to have to deal with continued fiscal wrangling' in washington for weeks and weeks and weeks. >> we're going to talk more about the fiscal cliff and later on in the show. just coming back to europe for a second or touching on europe -- >> even more boring. >> because i'm quite looking forward to next year and i'm looking forward to hoping that we're not going to be sitting on politicians the same way we have over the last year, two years, looking at every single line that comes out of therefore mouths. i'm hoping we're going to see march of a sense of normality coming back in
CNN
Dec 31, 2012 2:00am PST
rubeio. 51% for former florida governor jeb bush. president obama plans to submit gun control legislation to congress in 2013. that will deal with assault weapons specifically, as well as background checks on gun sales. as you might realize, it's spurred on by the school massacre in newtown, connecticut, killed 20 children and 6 adults. murdered his mother and killed himself. speaking yesterday on "meet the press," the president says something has to fundamentally change in this country. that newtown shootings cannot feel like what he called a routine episode. >> that was the worst day of my presidency, and it's not something that i want to see repeated. >> vice president joe biden is leading a task force that will submit legislative proposals to the president in january. >>> also, happy new year, new zealand. auckland. and the start of 2013 with the fireworks display from sky tower, tallest free standing structure in the southern hemisphere. >> and as auckland rings in the new year, preparation under way in times square. heart of new york city, coming up next. >> and more from washington
CNBC
Dec 28, 2012 6:00am EST
. seinfeld. >> seinfeld. >> all right. president obama meets with top congressional leaders this afternoon with time running out to avoid the cliff. the house will be back in session on sunday to try to deal with the issue. we haven't had enough time, you know, two years. when is the last time we had a budget? >> harry reid was just -- wasn't he great yesterday talking about mitch mcconnell and the republicans? no budget. >> and more than 14,000 longshoremen could go on strike this weekend because of a contract dispute. a walkout would close cargo ports. some estimates say a strike could cost the economy $1 billion a day. which would add up. it would kind of counteract the 85 billion. but bernanke is doing 2 billion a day, right? >> more. >> 2.5, yeah. so that would take away -- we could easily rachet it up. unless the printing presses overheat at that point. let's check on the markets this morning. the futures were indicated lower based on angst. there it is worse. it was down 40 earlier, not out 62. they were down 150 at one point. came back down to 18. we're somewhere. >> between there.
FOX News
Dec 26, 2012 8:00am PST
it is not all that rare. kelly? kelly: jamie, thanks. right now president obama is cutting his vacation short to head back to washington and jump-start the fiscal cliff negotiations with congress. talks fell apart before christmas. the deadline now is just days away and there is no deal in sight to avoid the tax hikes and spending cuts set to go into effect january 1st. our juan williams is a fox news political analyst and he joins us today and very quickly, juan, merry christmas to you. >> merry christmas, kelly. kelly: this is daunting task facing congress to avert the so-called fiscal cliff that will set into motion more than $600 billion in drastic and draconian allic tax hikes and spending cuts. that will cause a lot of pain for all americans and does congress have enough time to act on this? >> they do. you know it will be very close and it may in fact go beyond the deadline per se although people are thinking at the moment it is possible to get something done by the end of this week. the key here, kelly, is the senate. we have been so focused on the house, speaker boehner, plan. about,
CNBC
Dec 31, 2012 6:00am EST
against president obama for supposedly cutting medicare in the health care deal. and the ryan budget deferred all of the cuts in social security and medicare way out in the future. >> well, first of all, you're talking about social security and medicare, and the ryan budget was silent on social security. actually thought we should have talked about it. those things are always in the future. you start adjusting eligibility rates over time. >> what are the ten-year entitlement savings right now? >> well, frankly, honestly, if you did lower the age, number one, that would start right at the very end of that window. secondly, you can do -- we want means testing. we've never made any bones about that. that hits mostly upper income people. but we haven't seen it and we haven't been able to get it through. the cpi thing is another one. there's a whole variety of things you can do. they've got to be done in a bipartisan way. they've got to protect current recipients and be phased in. >> do you think that republicans -- entitlement -- >> in fact if you look at the letter speaker boehner sent
FOX News
Dec 29, 2012 11:00am PST
. >> in 50 years, it's going to work out great. >> and military to deal with. >> if there's a theme to what we're saying, the united states has to play an active leadership role rather than passive leadership role. if the united states is passive and barack obama to a certain extent, represents democratic ideas na it should be more passive, this is the kind of world that results. i think places like egypt and syria were looking to the united states at least to have a presence in the transition, but we have not and we're seeing the results. >> paul: where do you think, other than -- where are the potential flash points in this coming year? >> liook, there are many. one of them, we don't talk about europe enough. the crisis in europe is going to get dramatically worse in portugal, spain, italy. there is dysfunction in the european union. that's one place to look. that's going to encourage russia to make moves of its own, you mentioned south africa. south africa is not going in a good direction, it's supposed to be the most optimistic spot on the african continent. so i don't see many bright s
PBS
Dec 31, 2012 3:00pm PST
vice president joe biden had spent sunday dealing directly with the senate's republican minority leader mitch mcconnell. and those contacts continued today. by early this afternoon amid reports of progress, president obama emerged in a campaign style setting. >> today it appears that an agreement to prevent this new year's tax hike is within sight. but it's to the done. there are still issues left to resolve. but we're hopeful that congress can get it done. but it's not done. >> it was widely reported that the deal would include making the bush era tax cuts permanent for families with incomes under $450,000 a year. for households making more than that amount, rates would rise from the current 35% to 39.6%. the agreement would also raise the estate tax. in addition, unemployment benefits would be extended for one year. otherwise some 2 million americans face the end of their benefits beginning in january. on the senate floor shortly before midafternoon, minority leader mcconnell confirmed that the stalemate on taxes appeared to be over. >> i can report that we've reached an agreement on
CNN
Dec 28, 2012 9:00am PST
or not all of our taxes go up. president obama and congressional leaders with trying to come up with this last-minute deal to avoid the so-called fiscal cliff, the massive tax increases and spending cuts to take place in four days. the president and vice president will be meeting with house speaker john boehner, minority leader nancy pelosi, senate majority leader harry reid, and minority leader mitch mcconnell. and watching all this, jessica yellin live at the white house. jess, what do we think is going to happen here? >> reporter: well, based on the expectations around town, the thought is the president and democrats will lay out an alternative, scaled-down proposal. and there will be discussions about what could be in the details of a proposal they could vote on, in theory, this weekend. the ideal outcome would be all the members agree to the terms of that deal. and then the two senators in the room agree that they can get their parties to bring it to a vote with no one filibustering it. and then on the house side, speaker boehner would agree that he will put it on the house
CNBC
Dec 27, 2012 6:00am EST
's in both sides' best interest to get this done. they want a two-year deal because no one wants to keep running on this stuff. and most importantly, to president obama, he has a state of the union and an inauguration speech to give. he wants to work on his legacy, not on this. >> so what -- you just said that the republicans really did just play right into the hands of the democrats. is that what you said? >> well, i think they fumbled the ball a little bit in their negotiations. i think, for example, even the optics of it, having president obama back in washington today, and having congress still out, is not the right message to end. people right now feel that the republicans are the party of no, that they are the ones causing this, they are going to get blamed. the fact of the matter is, is that they are doing the fiscal responsible thing here and that's where they can hang their hat. is that they have to hold on for deficit spending, and they still have the debt ceiling to hold in their back pocket if they need to. >> so what would, if you had been advising boehner, what would you ad
CNBC
Dec 28, 2012 9:00am EST
the use of drone strikes by the obama administration, look to see companies launching drone war at home for deals to build unmanned aircraft for domestic use. the faa says there could be 30,000 uavs in u.s. skies by 2020. the teal group says domestic drones could be worth $89 billion over ten years, as everyone from homeland security to tmz wants permission to use them. >>> let's get some more insight on the defense skprkt how to play it as the fiscal cliff deadline grows closer. howard rubel is with jeffries. great to speak with you. and i guess key to understanding the impact on these individual stocks, as jane had pointed out in her piece, is to understand which programs might be protected, even with budget cuts that the industry is facing. the f-35, for instance, is one that might be protected. walk us through. which ones had the most protected streams of revenue? >> frankly, many of them do at the moment, because the pentagon has been very busy signing production contracts to get under the wire of the sequester. >> so, for instance, the general dynamics deal that was selling to the
CNBC
Dec 26, 2012 9:00am EST
think a grand bargain is impossible at this point. but president obama coming back from vacation in hawaii. that's an indication that some kind of deal -- however small -- is definitely coming. i want to point out, and i know you've been negative on this mastercard data on retail sales, and everybody thinks it's going to be a mess for the holiday season. i want to point out that the stocks are not acting that way. that this is a disaster for the season. the s&p retail index hit an historic high on december 3rd. historic high. since then, it has only been down about 3%. these stocks are not acting like there's a disaster. i can give you several reasons why they're not down so far. number one, we are going to see eps growth in the fourth quarter from some of them because of the extra week that there is. number two, we've had much lower cotton costs this year. their overall costs are lower. that's helping their earnings. number three, inventory levels are much lower. and that's going to help their gross margins. number four, we had pretty good gdp numbers in q-3. number five, home p
CNBC
Dec 31, 2012 9:00am EST
revenue than that, if not all the way up to the level in president obama's budget. finally, that an agreement would include a significant extension of unemployment benefits. remember, there are 2 million people who would lose about $300 a week if this fiscal cliff passes and there's no deal whatsoever. guys, back to you in d.c. >> all right. john harward, thanks for keeping us posted. we're about six minutes before the bell rings in the final session of 2012. let's bring in matt. good to have you with us. the futures are not too bad. we're coming off five straight losing streaks. on friday we saw the vix post the low of the session. what do you think it will happen today? >> i'm not going to put a lot of credence in the futures this morning. i think that's out of the picture for a lot of people. they didn't really notice it because it happened after the close. we're really not going to put any credence in it downstairs today. obviously everything has to do with what they're going to negotiate starting at 10:00. funny thing is, why 10:00? why are we waiting so long? this is
CSPAN
Dec 25, 2012 1:00am EST
. if there was a formula of "24" that would have been it. and i think these people saw and president obama sees as well there is something about the presentation of the complexity of some of the things that people who are charged with these jobs have to deal with. writing it and imagining it makes me glad it's not my job just imagining how tough some of these decisions must be makes you grateful. >> the verse that we show in frost nixon "the queen" and that is how much responsibility you take with that, especially when art itself is working in metaphors. when people ask me about there is a pivot al scene in "frost nixon" which never happened. how could you show that because that is a pivotal moment in the piece. and the same with "the queen," that never happened. nixon did used to make phone calls and a part of his research would be times he was on heavy medication at time and would make phone calls at times he wouldn't remember. his staff were told if the president calls you during the middle of the night stay on the phone, he will eventually fall asleep you put down the phone and never mention it. if
CSPAN
Dec 25, 2012 5:00pm EST
and president obama sees as well there is something about the presentation of the complexity of some of the things that people who are charged with these jobs have to deal with. writing it and imagining it makes me glad it's not my job just imagining how tough some of these decisions must be makes you grateful. >> the verse that we show in frost nixon "the queen" and that is how much responsibility you take with that, especially when art itself is working in metaphors. when people ask me about there is a pivot al scene in "frost nixon" which never happened. how could you show that because that is a pivotal moment in the piece. and the same with "the queen," that never happened. nixon did used to make phone calls and a part of his research would be times he was on heavy medication at time and would make phone calls at times he wouldn't remember. his staff were told if the president calls you during the middle of the night stay on the phone, he will eventually fall asleep you put down the phone and never mention it. if it was a ballet of frost nixon, is it a valuable argument to say fr
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